Transcorp Hotels plc

Last updated
Transcorp Hotels Plc.
Company typeCompany
Industry Hospitality
Headquarters Maitama, Abuja, Nigeria
Key people
Parent Transcorp
Subsidiaries Transcorp Hilton Abuja, Aura by Transcorp Hotels
Website transcorphotels.com
Transcorp Hilton, Abuja Transcorp Hilton, Abuja.jpg
Transcorp Hilton, Abuja

Transcorp Hotels Plc, formerly Transnational Hospitality & Tourism Services Limited (THTSL), is the hospitality subsidiary of Transnational Corporation of Nigeria Plc (Transcorp), a conglomerate with interests in the power, hospitality, agriculture, and oil and gas sectors, headquartered in Lagos. It was listed on the Nigerian Stock Exchange in January 2015.

Transcorp Hotels has a property in Abuja; [2] [3] the Transcorp Hilton Hotel Abuja and planned properties in Lagos [4] and Port Harcourt, which is to be situate at Evo Road. [5] [6]

History

In 2005, the Federal Government of Nigeria privatized NIRMSCO Properties Limited – the owner of the Nicon Hilton Hotel, Abuja at the time. As part of a consortium, Transcorp plc purchased a proprietary stake in the company and became the core investor, while the federal government retained the remaining 49 per cent. Hilton International LLC was engaged to manage the property.

In 2007, the name NIRMSCO Properties Limited was changed to Transnational Hotels & Tourism Services Limited (THTSL). THTSL was the hospitality subsidiary of Transcorp.

In 2013, Transcorp bought out other consortium members and became the sole owner of the 51 per cent controlling shares in THTSL. It secured hosting rights for the World Economic Forum on Africa in 2014.[ citation needed ]

THTSL was rebranded Transcorp Hotels plc in 2014, ahead of an initial public offering in October 2014. [7] [8] [9]

In July 2021, Transcorp Hotels plc launched Aura by Transcorp Hotels, an online platform for booking accommodation, including hotels and apartments, as well as experiences. [10]

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References

  1. ↑ "Transcorp Group makes key board appointments". Latest Nigeria News, Nigerian Newspapers, Politics. February 12, 2020.
  2. ↑ "Transcorp Hilton Abuja Honoured At World Travel Awards 2015". Naij.com. 2015-06-21. Retrieved 2015-10-28.
  3. ↑ "Transcorp Hilton Abuja Named Winner In Five Categories At World Travel Awards 2015". OnoBello.com. 2015-06-24. Retrieved 2015-10-28.
  4. ↑ "Transcorp accelerates expansion drive with new Hilton Hotels in Lagos and PH". 9 May 2016.
  5. ↑ "Transcorp, Hilton seal Port Harcourt hotel deal - The Nation Nigeria". Thenationonlineng.net. 2014-10-20. Retrieved 2015-10-28.
  6. ↑ "Transcorp, Hilton Hotel sign deal - Daily Trust". 18 October 2014.
  7. ↑ Anuforo, Chinenye (2014-09-29). "Transcorp Hotels plans expansion with IPO proceeds". Sunnewsonline.com. Retrieved 2015-10-28.
  8. ↑ Powered by DMflex WebGen --- www.dmflex.com (2014-10-05). "Transcorp's IPO Targets Opportunities in Nigeria's Hospitality Business, Articles". Thisday Live. Retrieved 2015-10-28.
  9. ↑ "NSE lists Transcorp Hotel shares, as 52.3% IPO shares subscribed - Vanguard News". Vanguardngr.com. 2015-01-16. Retrieved 2015-10-28.
  10. ↑ Bello, Abdulazeez (2021-07-09). "Transcorp Hotels Launches 'Aura', To Redefine Travel, Tourism In Nigeria". dailytrust.com. Retrieved 2021-10-28.
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